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NAB/SEEK: Job Ad Strength Signals Further Labour Market Gains Ahead

AUSTRALIA

The latest NAB/SEEK employment report notes that "SEEK new job ads rose 10.3% m/m in March to be 24.3% above pre-pandemic February 2020 levels. The increase in the month takes the level of job ads in trend terms to their highest since early 2008, with some states and territories at an all-time high. The strong growth in SEEK job ads continues to indicate an ongoing lift in labour demand, reflective of the better-than-expected economic recovery, but also reflects some dislocation in labour supply as a result of interstate and international border closures. Overall the data suggests a further tightening of the labour market in the coming months even with the end of the JobKeeper wage subsidy on 28 March."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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